Standard Nuclear, Inc. · NYSE:STDN
Standard Nuclear — Investor Presentation (September 2026)
36 slides from Standard Nuclear's investor presentation, September 2026
Slide 1: Investor Presentation | September 2026
INVESTOR PRESENTATION | September 2026 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements about the Company and its industry that involve substantial risks and uncertainties. All statements contained in this presentation other than statements of historical fact, including statements regarding the Company’s f
Slide 3: What We Do
WHAT WE DO Standard Nuclear manufactures the fuel for the next generation of American nuclear power. NUCLEAR TODAY THE BUILD OUT THE FUEL OUR ROLE ~20% 3X TRISO TODAY ~20% of U.S. electricity comes from The Department of Energy is TRISO is the fuel form of choice for We believe Standard Nuclear is t
Slide 4: The Only Industrial Scale Advanced Nuclear Fuel Company Today
The Only Industrial Scale Advanced Nuclear Fuel Company Today Standard Nuclear is Positioned to Capture Structural TRISO Demand as the Nuclear Fuel Supply Chain Reshores The Only Independent, Industrial-scale TRISO Producer in the U.S. 1 Standard Nuclear is unconflicted with reactor developers, so w
Slide 5: Standard Nuclear at a Glance
STANDARD NUCLEAR AT A GLANCE We are the only independent, industrial-scale TRISO producer in the United States, delivering commercial fuel today. $4.7MM $576.9MM $696.3MM $102.2MM 105 Revenue, quarter ended June 30, 20265 Total contract backlog1 Qualified pipeline2 Cash and cash equivalents5 Full-ti
Slide 6: Proven Leadership
PROVEN LEADERSHIP Our company-wide management team brings 150+ years of combined national laboratory, nuclear industry, and public-company experience. Kurt Terrani Kevin Harrill Keeley Marrocco Thomas Hendrix CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER CHIEF OPERATING OFFICER FOUNDER & EXECUTIVE
Slide 7: The Advanced Nuclear Fuel Revolution Is Here
THE ADVANCED NUCLEAR FUEL REVOLUTION IS HERE Full Core Delivery to Radiant The first complete reactor core of commercially produced TRISO fuel from an independent U.S. manufacturer, supporting a full-power, full-temperature demonstration at the Department of Energy's DOME facility at Idaho National
Slide 8: Blue Chip Commercial & Government Partnerships
BLUE CHIP COMMERCIAL & GOVERNMENT PARTNERSHIPS “ Oklo’s fuel strategy is built around turning used nuclear fuel and surplus nuclear materials into usable fuel for reactors… The collaboration with Standard Nuclear helps support the domestic supply chains needed to deploy advanced nuclear at scale. (1
Slide 9: Quarterly Financial Snapshot
QUARTERLY FINANCIAL SNAPSHOT REVENUE OPERATING LOSS CASH AND CASH EQUIVALENTS $4.7MM $(4.3MM) $102.2MM Quarter ended June 30, 2026 Quarter ended June 30, 2026 As of June 30, 2026 GROSS PROFIT / MARGIN OPERATING EXPENSES CAPITAL EXPENDITURES DEFERRED REVENUE $3.2MM / 67% $7.5MM $17.4MM $4.0MM Quarter
Slide 10: From Core Loads to Fuel Annuity
FROM CORE LOADS TO FUEL ANNUITY 01 02 03 04 05 FUEL DEVELOPMENT COMMERCIAL DEPOSIT FUEL SALES AGREEMENT INITIAL CORE LOAD RECURRING RELOADS AGREEMENT Customer funds development of their Non-refundable deposit secures Long-term supply contract with First full core delivered ahead of Reload demand rec
Slide 11: Commercial Funnel and Backlog Momentum
COMMERCIAL FUNNEL AND BACKLOG MOMENTUM Backlog and qualified pipeline both grew materially in the quarter ended June 30, 2026 COMMERCIAL FUNNEL COMPOSITION OF BACKLOG 0.3x UNFUNDED BACKLOG SERVICEABLE ADDRESSABLE MARKET $23.1MM $3.2BN 10% of backlog Includes total contract backlog and qualified pipe
Slide 12: Backlog More Than Doubled After Quarter End
BACKLOG MORE THAN DOUBLED AFTER QUARTER END Backlog and qualified pipeline both changed materially after quarter end as of August 26, 2026 TOTAL CONTRACT BACKLOG FUNDED BACKLOG PURCHASE OPTIONS $576.9MM $119.3MM $443.5MM Giving effect to August 2026 Up ~93% from $61.9MM From $156.5MM at June 30, agr
Slide 13: Why Nuclear, Why Now
WHY NUCLEAR, WHY NOW Policy has become procurement. Fuel is contracted before reactors are built. 13
Slide 14: Nuclear Addresses Multiple Bottlenecks
NUCLEAR ADDRESSES MULTIPLE BOTTLENECKS Nuclear energy leads in reliability, decarbonization and scale especially at an inflection point of power demand The Janus Program is a strategic leap forward in Less More New-Build Conventional Solar / Wind American energy dominance… the Army and DIU are suite
Slide 15: Demand Is Moving From Policy to Deployment
DEMAND IS MOVING FROM POLICY TO DEPLOYMENT TRISO fuel is contracted years ahead of commercial reactor deployments. 01 POLICY ENACTED 02 FEDERAL PROGRAMS FUNDED 03 PRIVATE REACTOR DEMAND COMMITTED 2024 ADVANCE Act 2019 Project Pele 2024 TRISO Google & Kairos Power Modernized NRC licensing for advance
Slide 16: Implications for TRISO Demand
IMPLICATIONS FOR TRISO DEMAND Cumulative advanced reactor deployment converts into a definable annual fuel requirement. CUMULATIVE 2035 TRISO-FUELED DEPLOYMENT BY CASE (GWe) BASE CASE ANNUAL TRISO REQUIREMENT DEMAND ACCELERATION CASE ANNUAL TRISO REQUIREMENT 7.1 GWe ~116.6 MTU 27.5 GWe ~457.0 MTU CO
Slide 17: Government Deployment Is Happening Now
GOVERNMENT DEPLOYMENT IS HAPPENING NOW Department of War programs provide the clearest near-term visibility in the market. JANUS IS AWARDED WE FUEL TWO OF THE FIVE TRISO IS THE ENABLING FUEL FUEL PRECEDES REACTORS Five vendors selected across five U.S. Army Antares and Radiant are Standard Nuclear F
Slide 18: U.S. Department of War Programs Provide Strong Near-Term Visibility
U.S. DEPARTMENT OF WAR PROGRAMS PROVIDE STRONG NEAR-TERM VISIBILITY With a Total of ~5,000 U.S. Military Bases Across the Globe, Programs like Project Janus and the Advanced Nuclear Power for Installations (ANPI) Program Represent a Paradigm Shift for the U.S. Government’s Stance on National Securit
Slide 19: Data Center Demand Unlocks Significant Upside
DATA CENTER DEMAND UNLOCKS SIGNIFICANT UPSIDE = 1 GWe = 16 MTU/YEAR 1 2035 Data Center Fuel Demand, Advanced Nuclear (GWe) Source: Wood Mackenzie Study - High Case (2026) 2 70 GWE TRISO Other Nuclear Total Advanced Nuclear Data Center Demand (2035) 2 19 GWE TRISO Share of Advanced Nuclear Data Cente
Slide 20: From Formation to Commercial Delivery in Two Years
FROM FORMATION TO COMMERCIAL DELIVERY IN TWO YEARS Incorporated in July 2024, delivering commercial TRISO fuel and publicly listed by July 2026. JUL 2024 Standard Nuclear incorporated DEC 2024 Acquired facility, license, and assets from USNC1 MAY 2025 Executive Orders accelerate nuclear deployment D
Slide 21: Our Scalable Infrastructure
OUR SCALABLE INFRASTRUCTURE One design-frozen module, replicated across four sites. 21
Slide 22: We Make the Most Robust Nuclear Fuel on Earth
WE MAKE THE MOST ROBUST NUCLEAR FUEL ON EARTH COMPACT PELLET PEBBLE PARTICLES FUEL FORMS REACTOR CORE • TRi-structural ISOtropic (TRISO) particles are uranium • Thousands of TRISO particles embedded in a binding • Fuel compacts, pebbles, or pellets assembled into fuel kernels the size of a poppyseed
Slide 23: From Feedstock to Fuel, Modular and Expandable at Scale
FROM FEEDSTOCK TO FUEL, MODULAR AND EXPANDABLE AT SCALE 1 2 3 KERNEL FUEL FORM FORMATION TRISO COATING FABRICATION The feedstock is formed into high-density spherical fuel kernels High temperature coating is added to the fuel kernels TRISO particles are pressed into cylindrical fuel compacts or tail
Slide 24: Manufacturing Footprint Supporting Future Capacity Expansion to 40 MTU
MANUFACTURING FOOTPRINT SUPPORTING FUTURE CAPACITY EXPANSION TO 40 MTU TENNESSEE - HQ SN – TN [Oak Ridge, TN] IDAHO SN – ID [Idaho Falls, ID] 500 KGU 2.5 MTU 2.5 MTU Currently in Operation Operational in 2026 1 Operational in 2026 1 WASHINGTON SN – F [Richland, WA] (2) 20 MTU 1 – 20 MTU Operational
Slide 25: Capacity Expansion
CAPACITY EXPANSION We believe that Standard Nuclear is the only independent TRISO producer—not tied to a single reactor design— with industrial-scale capacity online today and scaling in the future LONG-TERM Planned to expand from 0.5 MTU operating today to up to 40.0 MTU on design-frozen modules. U
Slide 26: Durability of the Position
DURABILITY OF THE POSITION Widening our lead as nuclear adoption scales. 26
Slide 27: A Significant First Mover Advantage
A SIGNIFICANT FIRST MOVER ADVANTAGE We believe Standard Nuclear is the only independent, industrial-scale TRISO platform positioned to serve multiple advanced reactor developers. Basic TRISO Manufacturing Technology Fuel Production Lines Operating Today1 Unconflicted with End-Users2 Multiple Factori
Slide 28: Regulatory Headstart
REGULATORY HEADSTART Standard Nuclear’s portfolio of DOE and NRC licensed facilities enables parallel deployment across government, defense, and advanced reactor markets, and flexibility as regulatory frameworks evolve. 01 02 03 04 DOE OPERATING PATHWAY NRC OPERATING PATHWAY REPLICABLE LICENSING BAR
Slide 29: Operating Leverage From Modular Scale
OPERATING LEVERAGE FROM MODULAR SCALE Expected unit cost declines as cumulative volume grows by replicating a proven module. 01 02 03 FIXED COST ABSORPTION YIELD IMPROVEMENT DESIGN-FROZEN MODULES The licensed facility, quality system, and Kernel, coating, and compact yields Replicate, don’t redesign
Slide 30: Growth Strategies
GROWTH STRATEGIES PACKAGING AND TRANSPORTATION • Developing, controlling, and offering fissile material specialty packages and transportation for delivery of advanced nuclear fuel, removing external logistics bottlenecks FRONT-END FUEL CYCLE EXPANSION • Integrating upstream process and other chemica
Slide 31: The Standard Nuclear Investment Proposition
THE STANDARD NUCLEAR INVESTMENT PROPOSITION FULL CORE DELIVERED $576.9MM (as of Aug. 26, 2026) $696.3MM (as of Aug. 26, 2026) TRISO delivered to Radiant – first complete commercial reactor Total contract backlog across government and commercial Qualified pipeline, 1.2x total contract backlog core pr
Slide 32: Appendix
APPENDIX 32
Slide 33: Government Tailwinds Accelerating Deployment
GOVERNMENT TAILWINDS ACCELERATING DEPLOYMENT U.S. GOVERNMENT POLICY ADVANCE ACT IRA Executive Orders NRC Part 53 DPA Sections 303 & 708 (2026) NRC Part 57 (2024) (2024) (2025) (2026) (2026 - Proposed) Modernizes NRC licensing to $25/MWh production tax credit for new Elevates advanced nuclear deploym
Slide 34: Microreactors 101
MICROREACTORS 101 WHAT ARE MICROREACTORS? KEY CONSIDERATIONS VS. LARGER SMRS • Highly compact, factory-built reactors that are typically 100x–1,000x smaller than conventional • New nuclear use case given enhanced safety via meltdown-proof TRISO fuel and nuclear reactors, targeting an output of 1MWe–
Slide 35: Glossary of Nuclear Terms
GLOSSARY OF NUCLEAR TERMS Advanced Reactors: A new class of nuclear reactors, TRISO Fuel: Poppyseed-sized fuel particles made from including small modular reactors (SMRs) and microreactors, enriched uranium and coated in ceramic layers. TRISO fuel is designed to be safer, more efficient, and more fl
Slide 36: Standard Nuclear - The New Standard
? STANDARD ? NUCLEAR THE NEW STANDARD STANDARD NUCLEAR, INC INFO@STANDARDNUCLEAR. COM 36
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